Korea Zinc revises share issuance for US smelter to $1.94 billion

Korea Zinc said on Wednesday it has revised its planned share issuance to 2.833 trillion won ($1.94 billion) from the previously announced 2.85 trillion won, citing the finalized issuance price per share and changes in currency exchange rates.

The non-ferrous metal smelter said in a regulatory filing that the $1.94 billion would fund the establishment of a non-ferrous metal smelter for the production of core minerals such as antimony and gallium in the US state of Tennessee.

The project aims to support US efforts to reduce dependence on China for materials critical to industries such as electronics and weapons manufacturing.

($1 = 1,460.60 won)

(By Joyce Lee; Editing by Jacqueline Wong)

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